Is My Startup in the Zone of Insolvency?

October 31, 2023by Mike Cronin

The term “Zone of Insolvency” often floats around in financial and legal circles, but pinning down its meaning is like trying to catch smoke with your hands. No mathematical formula or financial algorithm can reliably signal when a business enters this nebulous zone. The irony is that you usually only realize you’ve been in this...

Advice Wind-Down

How a Hardware Company with 6 Months of Runway & $3 Million in Debt Avoided Bankruptcy

October 18, 2023by Dan Saccani

From the Desk of Dr. Doom, Chief Restructuring Officer: Trigger Warnings: Uncontrolled Debt, Zero Profitability It was a routine morning when my inbox flashed with an introduction email from Bailey, a known board member from the industry. The subject: “Harry’s Crisis: Urgent Intervention Needed”. The content was straightforward; Harry’s decade-long dream startup venture was in...